SVB Financial Group (NASDAQ:SIVB) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a report released on Friday. The brokerage currently has a $132.00 price target on the stock. Zacks Investment Research’s price target would indicate a potential upside of 9.76% from the stock’s current price.
According to Zacks, “Estimates have been rising ahead of SVB Financial’s third-quarter 2016 earnings release. Further, the company has a positive record of earnings surprises in recent quarters. Moreover, it remains well positioned to capitalize on future opportunities on the back of its sturdy capital position and continuous favorable change in deposit mix. In addition, consistent growth in loans and deposits as well as focus on improving non-interest income will likely accelerate top-line growth. Also, the company has been continuously lowering its long-term debt, which in turn will lead to lower interest expenses and an improved bottom line. However, margin compression, domestic concentration, stricter regulatory environment and higher capital requirements would considerably affect the lending as well as the investment ability of the company.”
Several other research analysts have also recently commented on SIVB. JPMorgan Chase & Co. reissued a “buy” rating on shares of SVB Financial Group in a research report on Saturday, July 9th. Royal Bank Of Canada reissued a “buy” rating on shares of SVB Financial Group in a research report on Monday, July 11th. Maxim Group reduced their price target on SVB Financial Group from $170.00 to $150.00 and set a “buy” rating for the company in a research report on Monday, July 25th. Barclays PLC dropped their price objective on SVB Financial Group from $122.00 to $117.00 and set an “overweight” rating on the stock in a research note on Monday, July 25th. Finally, Morgan Stanley restated a “buy” rating on shares of SVB Financial Group in a research note on Tuesday, August 2nd. Two research analysts have rated the stock with a hold rating, twelve have issued a buy rating and two have assigned a strong buy rating to the company. The company currently has an average rating of “Buy” and a consensus price target of $134.31.
Shares of SVB Financial Group (NASDAQ:SIVB) opened at 120.26 on Friday. The company has a 50-day moving average price of $109.45 and a 200 day moving average price of $103.72. The firm has a market cap of $6.26 billion, a price-to-earnings ratio of 18.36 and a beta of 1.63. SVB Financial Group has a 52 week low of $77.87 and a 52 week high of $141.75.
SVB Financial Group (NASDAQ:SIVB) last issued its quarterly earnings results on Thursday, July 21st. The company reported $1.78 EPS for the quarter, beating the consensus estimate of $1.70 by $0.08. SVB Financial Group had a return on equity of 9.90% and a net margin of 22.00%. Analysts expect that SVB Financial Group will post $6.81 EPS for the current fiscal year.
In related news, Director Eric Benhamou sold 2,000 shares of the stock in a transaction that occurred on Thursday, August 25th. The stock was sold at an average price of $106.38, for a total transaction of $212,760.00. Following the sale, the director now owns 11,897 shares of the company’s stock, valued at $1,265,602.86. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Bruce Wallace sold 2,300 shares of the stock in a transaction that occurred on Tuesday, July 26th. The stock was sold at an average price of $103.25, for a total value of $237,475.00. Following the sale, the insider now directly owns 13,177 shares in the company, valued at approximately $1,360,525.25. The disclosure for this sale can be found here. Corporate insiders own 0.78% of the company’s stock.
A number of large investors have recently modified their holdings of SIVB. Palisade Capital Management LLC NJ increased its stake in shares of SVB Financial Group by 21.8% in the first quarter. Palisade Capital Management LLC NJ now owns 165,106 shares of the company’s stock worth $16,849,000 after buying an additional 29,582 shares in the last quarter. TimesSquare Capital Management LLC bought a new stake in shares of SVB Financial Group during the first quarter worth about $48,872,000. Champlain Investment Partners LLC bought a new stake in shares of SVB Financial Group during the first quarter worth about $18,874,000. NN Investment Partners Holdings N.V. bought a new stake in shares of SVB Financial Group during the first quarter worth about $15,366,000. Finally, JPMorgan Chase & Co. increased its stake in shares of SVB Financial Group by 6.7% in the first quarter. JPMorgan Chase & Co. now owns 2,364,948 shares of the company’s stock worth $241,343,000 after buying an additional 149,438 shares in the last quarter. 92.23% of the stock is currently owned by institutional investors and hedge funds.
SVB Financial Group Company Profile
SVB Financial Group (SVB Financial) is a diversified financial services, bank holding and financial holding company. The Company operates through three segments: Global Commercial Bank, SVB Private Bank and SVB Capital. The Global Commercial Bank segment consists of the operations of its Commercial Bank, and of SVB Wine, SVB Analytics and its Debt Fund Investments.
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